The International Compliance Association will explore the impact of ransomware on financial crime compliance on Nov. 16 as part of a free webinar.
Mark your calendars: Compliance Week’s National Conference in Washington, D.C. will be held in person for the first time in nearly three years from May 16-18, 2022.
A Financial Crimes Enforcement Network report on financial trends in Bank Secrecy Act data found a greater number of SARs related to ransomware filed between January and June 2021 than during all of 2020.
The Department of Justice’s new Civil Cyber-Fraud Initiative is the latest development to suggest companies’ cybersecurity defenses had better be up to snuff when doing business with the U.S. government or risk enforcement.
The Department of Justice will use the False Claims Act to pursue cases of cybersecurity-related fraud by government contractors and grant recipients—including claims against entities that fail to report breaches and hacks in a timely manner.
Luxury retailer Neiman Marcus discovered last month a May 2020 data breach that exposed personal and financial information contained in the online accounts of approximately 4.6 million customers.
To uncover Americans’ top cybersecurity concerns, CSI partnered with The Harris Poll to survey more than 2,000 U.S. adults age 18 and above about their perceptions, fears and expectations related to cybersecurity.
The professor who created CW’s first-ever self-directed learning module explains what compliance practitioners can expect to get out of the course—and why it’s an essential tool in an evolving cyber-risk landscape.
Take this self-directed, interactive course to deepen your understanding of cybersecurity risks and learn about the latest regulations to keep your organization compliant and prepared for today’s dangerous cyber-environment.
The U.S. Department of the Treasury announced “robust actions” to counter ransomware, including blocking the assets of a Russian virtual currency exchange that has facilitated payments for at least eight ransomware variants.
Ransomware continues to dominate headlines with no sign of slowing down. What started more than 30 years ago has become one of the most prevalent and lucrative cyberattacks that does not discriminate by company size, industry, or geography.
The Securities and Exchange Commission penalized eight firms across three separate actions for breaches of employee email accounts that exposed the personal information of thousands of customers in each case.
Three federal banking regulators have released guidance offering tips and suggestions to community banks for conducting due diligence on potential FinTech partners.
T-Mobile CEO Mike Sievert lamented the recent breach of company servers that led to a hacker stealing the personal information of nearly 55 million customers, but said the company is “fully committed to take our security efforts to the next level.”
A “highly sophisticated” cyber-attack illegally accessed nearly 55 million customer records of mobile phone carrier T-Mobile, the largest such attack against the company that has been hit at least four previous times since 2018.
Cyber-attacks catch most companies and their customers off guard, but T-Mobile, the victim of at least five data breaches since 2018, had many red flags indicating its vulnerability ahead of its latest incident.
U.K.-based education company Pearson has agreed to pay $1 million as part of a settlement with the Securities and Exchange Commission for misleading investors regarding a 2018 data breach.
The Financial Industry Regulatory Authority issued a notice on compliance deficiencies arising from firms’ relationships with vendors culled from examination findings.
A recent survey from Compliance Week and OpenText reveals while investigations and data volumes are on the rise, machine learning combined with external expertise may give companies the upper hand in accelerating response and results.
Vanessa Benavides, chief compliance and privacy officer and senior VP at Kaiser Permanente, shares how the company adjusted its policies and procedures because of COVID-19 and the lessons she learned along the way.
A federal judge in California dismissed a lawsuit alleging a data breach at Walmart was a violation of the California Consumer Privacy Act, noting the plaintiff failed to prove a breach occurred.
Today’s breach landscape is unprecedented and complex. Every organization is facing potential enforcement of many interconnected and overlapping laws in multiple jurisdictions, each with restrictive timelines. In this complex environment, it is not enough to have a response plan. Your organization needs a response system.
Robinhood Markets said its cryptocurrency platform might face a penalty of “at least” $10 million from the New York State Department of Financial Services for anti-money laundering and cyber-security failures.
British Airways has settled one of the U.K.’s largest group actions after thousands of people sought compensation following a 2018 data breach that resulted in the airline being fined under the GDPR.
Two risk and compliance practitioners opened their cyber-playbooks at CW’s TPRM virtual event, explaining how to identify and address vulnerabilities, establish transparency with vendors, and strengthen an organization’s incident management program.
The New York State Department of Financial Services has issued guidance for regulated entities describing best practices for reducing the risk of a ransomware attack.
With many businesses still sorting through the new layers of risk that have emerged over the last 16 months, Linda Tuck Chapman of the Third Party Risk Institute shared her top areas of focus and more at CW’s virtual TPRM event.
Multiple high-profile companies—including Carnival, Wegmans, McDonald’s, Volkswagen, and CVS—have confirmed in recent days they were either victims of a data breach or were alerted to a gap in their security controls.
First American Financial Corp. reached a $487,616 settlement with the SEC for failing to maintain cyber-security disclosure controls and procedures that exposed more than 800 million title insurance records containing sensitive customer information.
The SEC’s spring 2021 rulemaking list is brimming with proposed regulations that would enhance ESG-related disclosures for public companies in areas like climate change, board diversity, human capital management, and cyber-security risk governance.
Meatpacker JBS USA announced it paid the equivalent of $11 million in ransom in response to a May cyber-attack that impacted its operations in North America and Australia.
Meatpacker JBS USA has become the latest critical infrastructure company to be targeted by a ransomware attack, which temporarily halted its global operations. The attack brings with it implications for the food and agriculture industries.
President Biden’s executive order on cyber-security largely applies to federal agencies. But its core message—that the public and private sectors must collectively defend against increasingly malicious ransomware attacks—should not be lost on companies.
A recent survey of 100 executives from Fortune 500 companies found more than half are struggling to balance easy access to company data with privacy and security compliance under laws like the GDPR and CCPA.
The National Institute of Standards and Technology is seeking comment on a revised version of its cyber supply chain risk management guidance that is intended for a broader audience of public and private companies.
Organizations are adopting digital transformation and, as a result, increasing their reliance on third parties faster than they can scale their third-party cyber-risk management programs.
GWFS Equities will pay $1.5 million as part of a settlement with the SEC for lapses in the filing of suspicious activity reports related to the threat of cyber-breaches.
Former FBI Director James Comey kicked off Compliance Week’s 16th annual National Conference on Tuesday by speaking candidly about a variety of risk and compliance matters, including the importance of a strong ethical culture in the coming post-pandemic “boom times.”
With various levels of defined risk and the potential for steep fines for offenders, the European Commission’s recent proposal to ensure trust in the use of artificial intelligence should receive urgent attention from industries beyond Big Tech.
The hybrid work environment many organizations are expected to utilize as part of the gradual return to the workplace presents numerous cyber-security risks that require proactive attention.
The threat of fines has done more to focus boardroom attention on data privacy and effective cyber-security than any other measure, U.K. Information Commissioner Elizabeth Denham believes.
It isn’t surprising to see Facebook think it doesn’t have an ethical obligation to alert users to its latest data leak, writes Kyle Brasseur, but it is disappointing knowing the company now has a chief compliance officer in place.
The Treasury Department announced sanctions against Russia implemented under an executive order from President Joe Biden in response to the SolarWinds hack and alleged election interference by the country.
Aaron Nicodemus applauds outgoing SEC whistleblower chief Jane Norberg for “revolutionizing” the program and the agency, while Kyle Brasseur laments Facebook’s ethical bungling of its recent data leak.
The Irish Data Protection Commission has launched an inquiry into Facebook over concerns the social media giant may not have properly disclosed the full extent of its recent data leak.
Old personal data of more than 533 million Facebook users was recently made publicly available on a hacker forum. Could the social media giant face a new investigation under the GDPR in response?
The Irish Data Protection Commission has reached out to Facebook seeking to determine whether the social media giant’s weekend data breach should receive scrutiny under the General Data Protection Regulation.
Cyber-breach disclosures in 2020 were down 19 percent from 2019—the first drop in the statistic in five years, according to a new report from Audit Analytics.
Online reservation Website Booking.com has been fined €475,000 (U.S. $557,000) by the Dutch Data Protection Authority for reporting a data breach 22 days later than the 72 hours required under the GDPR.
Aly McDevitt assesses controversial data breach disclosures from U.K. retailer FatFace and technology vendor Ubiquiti in light of a report Congress is considering stricter requirements for reporting data breaches.